The funds and assets of the members of the Muslim Brotherhood will be transferred to Egypt's state treasury if there is a final court order to confiscate them, MP Ehab El-Tamaway said on Wednesday.
In statements to the media, the undersecretary of the legislation committee in the Egyptian House of Representatives MP El-Tamawy described the difference between the seizing of assets and legal confiscation of assets.
"Seizing the assets of the terrorist Muslim Brotherhood organization is the first step until a final court verdict is issued to confiscate those assets and transfer them to the state treasury," he said.
According to article 11 of law no. 22 of this year, whenever a court verdict is finalized and rules on the management of assets of a terrorist organization, the committee has the right to transfer the ownership of the seized funds to the state treasury, if the committee requests permission from the relevant court.
President Abdel-Fattah El-Sisi ratified it as law no. 22 of 2018 in April.
Since then, the assets of 1,589 Brotherhood members and supporters, including assets of leading members and their families, 118 companies, 1,133 NGOs, 104 schools, 69 hospitals and 33 websites and satellite channels have been confiscated and managed by the committee.
The seized assets have so far been estimated at EGP 61 billion, according to media reports.
Among the names of Brotherhood figures with confiscated assets include Muslim Brotherhood supreme guide Mohamed Badi , leading Brotherhood figures Esam al Arian and Mohamed El-Beltagy, popular ex-football star Mohamed Abu Trika, and the vice-head Khaitrat Al-Shates and his children.
The Muslim Brotherhood was designated a terrorist organization by the Egyptian government in November 2013.